2015 (10) TMI 1816

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..... emittance of duty and interest and not for penalty. Since the appellant had remitted the disallowed component of Cenvat credit and the interest thereon by reversing from his Cenvat account and such reversal or debit to the Cenvat account cannot be utilised for remittance of penal liability under the Act, the obligation of the appellant to remit 7.5% of the penalty imposed by the impugned order, is .....

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..... credit disallowed under Rule 15(2) of Cenvat Credit Rules, 2004 read with Section 11AC of the Central Excise Act, 1944. The appeal by the assessee is however restricted to imposition of the penalty and disallowance of Cenvat credit by the impugned order. 2. The matter is coming upon Registry s Defect Memo since the appellant failed to remit the compulsory 7.5% deposit, required under Section 3 .....

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..... om his Cenvat account and such reversal or debit to the Cenvat account cannot be utilised for remittance of penal liability under the Act, the obligation of the appellant to remit 7.5% of the penalty imposed by the impugned order, is unavoidable. 4. We are therefore unable to accept the appellants contention that reversal in the Cenvat credit constitutes compliance with the provisions of amende .....

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